Civista Bancshares, Inc. (NASDAQ:CIVB) Short Interest Up 81.2% in June

Civista Bancshares, Inc. (NASDAQ:CIVB) saw a significant growth in short interest in June. As of June 30th, there was short interest totaling 495,011 shares, a growth of 81.2% from the June 15th total of 273,182 shares. Approximately 2.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 214,021 shares, the short-interest ratio is presently 2.3 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. NewEdge Advisors LLC boosted its stake in Civista Bancshares by 57.5% in the fourth quarter. NewEdge Advisors LLC now owns 1,317 shares of the bank’s stock valued at $29,000 after acquiring an additional 481 shares during the period. Federated Hermes Inc. raised its holdings in shares of Civista Bancshares by 306.6% during the second quarter. Federated Hermes Inc. now owns 1,346 shares of the bank’s stock valued at $31,000 after buying an additional 1,015 shares during the last quarter. Osaic Holdings Inc. raised its holdings in shares of Civista Bancshares by 628.2% during the second quarter. Osaic Holdings Inc. now owns 3,226 shares of the bank’s stock valued at $75,000 after buying an additional 2,783 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of Civista Bancshares by 111.4% during the third quarter. BNP Paribas Financial Markets now owns 3,998 shares of the bank’s stock worth $81,000 after buying an additional 2,107 shares during the period. Finally, Tower Research Capital LLC TRC boosted its position in Civista Bancshares by 784.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,795 shares of the bank’s stock worth $111,000 after acquiring an additional 4,253 shares during the period. 52.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on CIVB. Wall Street Zen cut shares of Civista Bancshares from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Zacks Research downgraded shares of Civista Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th. Piper Sandler lifted their price target on shares of Civista Bancshares from $27.00 to $30.00 and gave the company a “neutral” rating in a report on Thursday, June 25th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Civista Bancshares in a report on Wednesday, July 8th. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $27.20.

Civista Bancshares Stock Performance

NASDAQ:CIVB opened at $29.06 on Friday. The stock has a market cap of $603.87 million, a P/E ratio of 10.68 and a beta of 0.67. Civista Bancshares has a 1-year low of $18.94 and a 1-year high of $29.38. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a 50-day moving average of $26.62 and a two-hundred day moving average of $24.54.

Civista Bancshares (NASDAQ:CIVB) last posted its quarterly earnings data on Wednesday, April 22nd. The bank reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.18. The company had revenue of $47.25 million for the quarter, compared to the consensus estimate of $45.64 million. Civista Bancshares had a return on equity of 10.70% and a net margin of 19.73%. On average, research analysts expect that Civista Bancshares will post 2.82 earnings per share for the current fiscal year.

Civista Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 19th. Stockholders of record on Tuesday, May 5th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Tuesday, May 5th. This represents a $0.72 annualized dividend and a dividend yield of 2.5%. Civista Bancshares’s dividend payout ratio (DPR) is presently 26.47%.

Civista Bancshares Company Profile

Civista Bancshares, Inc is a bank holding company headquartered in Saginaw, Michigan, operating through its wholly owned subsidiary, Civista Bank. The company offers a full suite of commercial and retail banking products and services to individuals, small- and mid-sized businesses, governmental entities and nonprofit organizations. Core offerings include deposit accounts, commercial and industrial loans, consumer and residential real estate mortgages, master-planned construction financing and treasury management solutions.

Beyond traditional banking, Civista Bancshares provides wealth management, trust and investment advisory services under the Civista Wealth Enterprises brand.